The Solid State (Smart) Transformer market is currently in an introductory phase, but in a couple of years, it is expected to experience high growth due to its advantages. Solid state transformer has a capability to operate at higher frequency range. Its physical size and weight ratio to the legacy transformer is more than 1:100. The market segmentation revolves around four major market parameters, namely; components, applications, product, and geography.

The new solid state transformers are quite flexible. They use diodes and transistors and other semiconductor-based devices (power electronics); which, unlike the transistors used in computer chips, are engineered for handling high power levels and happen to be fast switching. In response to signals from home or utility, they can change the voltage and other characteristics of the power they generate. They can put out either DC or AC power, or take in DC and AC power from wind turbines and solar panels and change the frequency and voltage to what is needed for the grid. They have processors and communications hardware built in, thereby allowing them to communicate with utility operators, the other smart transformers, and consumers.

The power generation and smart grid applications are the most promising ones for solid state transformers. Size reduction increases the efficiency of the entire power generation system. Since it is a solid state device, better automation and control is possible; this characteristic coincides with the smart grid. Both the applications, along with many others are covered in the report with quantitative and qualitative analysis.

The report entails the market analysis and forecasts related to solid state transformer components and its applications. It also highlights an overview of their growth potential up to 2020.

The report is segmented into four major geographical regions; namely Americas, Europe, Asia-Pacific, and Rest of the World. The current and future trends for each region have been analyzed in this report. Porters five force model analysis, market share of major players, and competitive landscaping are also included in the report.

The growth of the solid state transformer market is expected to be exponential; in 2020 the market is expected to reach $ 5,043.39 million at a CAGR of 82.3% from 2012 to 2020. Some of the major players in the foray to unleash their products on solid state transformers technology are ABB (Switzerland), Siemens AG (Germany), and Alstom (France). The leading components manufacturing companies in the field of SST technology are CREE Inc (U.S.), STMicroelectronics (U.S.), Infineon Technologies (Germany) and Mitsubishi Electric Corporation (Japan).

Scope of the report

This solid state transformer market research report categorizes the global market on the basis of them being used in different products, applications, the components used to manufacture them and geographical analysis; forecasting revenue, and analyzing trends in the market.

Solid State Transformer Market on the basis of products

The product section of the report is explained by first broadly defining conventional transformers and their types. Later, the concept of solid sate transformers is explained with their comparison with the traditional transformers.

Solid State Transformer Market on the basis of application

The application market is segmented into power grid, traction locomotives, electric vehicle charging stations, and others. The traction locomotives application is further divided in to sub-segments. The market trend for these applications is discussed.

Solid State Transformer Market on the basis of geography

Americas

Europe

Asia-Pacific

ROW

Each section will provide market data, market drivers, trends and opportunities, key players, and competitive outlook. It will also provide market tables for covering the sub-segments and micro-markets. In addition, the report provides 20 company profiles covering overview, products & services, financials, strategy, and developments.

Conventional transformers are single-functional devices generally used to transform the voltage from one level to another, such as stepping it down from the high voltages at which power is transformed to the 120 and 140 volt levels used at homes. The novel solid state transformers are multi-functional devices made up of high-powered semiconductor components, high frequency transformers, and control circuitry, thereby making them able to handle high power levels and fast switching speeds. When software and communication capability is integrated with these devices, they are termed as solid state transformers. Solid state transformers can, not only step up as well as step down AC voltage levels just like the conventional transformers, but also provide several important advantages. These include:

Allow two way or bidirectional power flow

Input or output AC or DC power

Actively change power characteristics such as voltage and frequency levels

Improve power quality (reactive power compensation and harmonic filtering)

Provide efficient routing of electricity based on communication between utility provider, end user site and other transformers in the network

Greatly reduce the physical size and weight of individual transformer packages with equivalent power ratings

Solid state (smart) transformers are a very niche market. Market growth has kicked off in the recent years. More number of prototypes has been developed by research institutes as well as leading transformer manufacturing companies, which have been tested successfully.

The major applications where solid state transformers have a huge potential for growth are power grids, electric vehicle charging stations, and traction locomotives. Loads of developments in developing SST for power grid have taken place recently. Many conferences have already been conducted; where important officials of prominent players in this field have given valuable insights about the technology. Many new ventures have received funding, to come up with efficient smart transformers for smart grid. The SST market for smart grids would pick up momentum in next one or two years as nearly 30-50 companies are involved in the development of this technology for smart grids. Electric vehicle charging is another emerging field where solid state (smart) transformer technology would be used effectively. It is predicted that there will be a huge market for electrical vehicle charging in two years as more than 70,000 has already entered the market. The application of SST technology in traction locomotives would completely revolutionize the railway network. This development would complement the electrification taking place in railways. North America poses as a potential market, as only 1% of its rail routes have been electrified. It is believed that 35% North American rail route will be electrified in next four years.

Taking the geography into consideration, U.S. would be the largest market for solid state (smart) transformers. Smart grids and electric vehicle charging application deploying SSTs, will have a phenomenal market in the U.S. for the next two years. Europe will lead traction locomotives application of SST as the major chunk of testing for solid state traction transformers has happened in Europe, Swiss federal railways, being a noted name in this regard.

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